XAUUSD Breakout After 33% Correction, Trend Continuation
Hi!
Gold is moving inside a clear ascending channel and remains firmly bullish. After a healthy 33% correction, the price reclaimed and broke above a key resistance zone, which is now acting as support.
The reaction after the breakout is clean, showing strong buyer control and continuation momentum.
Market structure:
Price keeps making higher highs and higher lows
Old resistance has flipped into support
Overall trend is still strong inside the rising channel
First target area: 4640 4650
As long as the price stays above the broken resistance area, the bullish trend remains valid, and continuation toward the upper channel is likely.
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